Thursday, March 10, 2011 | 2:18 p.m.
Sun Coverage
The Las Vegas company that used to operate the statewide "Nevada Numbers'' keno game at casinos filed for Chapter 7 bankruptcy liquidation Thursday.
Las Vegas Gaming Inc. listed assets of $34,000 and liabilities of nearly $10.3 million in its filing in U.S. Bankruptcy Court for Nevada.
The company last year said it was in danger of collapsing if it didn't find additional capital as it sought approval to sell its keno operations.
The keno business was sold to Session Gaming and its bingo business was sold to GamingArts.
Securities and Exchange Commission filings say the company in March 2009 shut down its linked-progressive mega jackpot games including Nevada Numbers, Super Bonanza Bingo and Million Dollar Ticket because it had lost funding for the $3.9 million jackpot bankroll.
Thursday's bankruptcy filing said the company owns patents with values that are unknown, and that it generated $600,000 in gross revenue in 2010, down from $3.8 million in 2009 and $4.8 million in 2008.
The filing was signed by former chairman of the board Russell Roth.
Join the Discussion:
Check this out for a full explanation of our conversion to the LiveFyre commenting system and instructions on how to sign up for an account.
Full comments policy